STRATEGY FOR BIDDING IN MASTRO AUCTION

[Archive]

Posted By: Jay Miller

With the Mastro Auction ending this week I was wondering if any of you have any thoughts as to what the best bidding strategy for multi-lot bidders is. As most realize by now, the auction will not close based on the usual 10 minute rule, but rather lots will close individually if, after a preset time, they have no bids for 15 minutes. Therefore, as I figure it, if you are bidding on multiple lots you can only be sure that your lot will not close without you getting in your last bid if you leave up tos. As an example, lets say you were bidding on 10 lots and if any of those lots went without a bid for a 15 minute period after 11:00 it would close. If lot 1 got a bid at 11:03, lot 2 at 11:05, lots 3-8at 11:08, lot 9 at 11:12 and lot 10 at 11:14 now you have lots which could close at different times and it is impossible to watch each to the end to see if someone tops you or not. It becomes a logistical nightmare. Like I say, the only strategy I can figure out is up to bids, but I was wondering if someone had a better idea that he/she was willing to share.